What To Expect From The Markets This Week - 011018

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Sunday, September 30, 2018 08:00 AM / Proshare Content 

 

Nigeria: Economic Dashboard @ 280918 

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From the Editor’s Desk 

According to the Central Bank of Nigeria, one-year deposit fell from 10.26% in July   to 9.95% in August 2018, sustaining the earlier downward tilt witnessed across board with regard to short-term rate.  

However, the prime lending in the period under review also dipped from 16.83 in July to 16.65% in August, making it 6 months of consecutive decline in the prime lending rate. 

The maximum lending rate nudged upwards, from 31.09% in July to 31.93% in August, therefore diverging from the earlier downward trajectory. The spread between the maximum lending rate and the deposit rate caved outwards to 27.86% and at the same time underpinning the cash hedging which has led to such wide spread between the maximum lending  rate and  deposit rate.         

 

Fig 1: Money Market Indicator

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Source: CBN

Net domestic credit shrug off earlier fall in the month of June, to rise from N25.568 trillion to N26.658 in July. Therefore reflective of a 3.25% increase compared to the previous month.

 

Regardless, the slip in credit to the private sector have hampered the growth in net domestic credit. Certainly, the growing proximity to the election cycle will further embolden headwinds to net domestic credit.

 

Fig 2: Net Domestic Credit


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Other Developments

 

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Monday, October 01, 2018

Nigeria’s 58th Independence Day Celebration holds today. 


Tuesday, October 02, 2018 

The LagosMSMEFair will commence on this day with the theme Enhancing Product Quality for Global Competitiveness in Lagos while the Efina Media Roundtable will hold same day titled The Role of Media in Driving Financial Inclusion in Lagos

 

Wednesday, October 03, 2018

SUSTAINABILITY IN WORKPLACE MASTERCLASS 5.0 will hold this day with the theme Building workforce and Green leaders for sustainable business in Lagos while the Nigeria Customer Service Experience Management Conference holds same day with the theme Unleashing the Digital Experience  in Lagos.


Thursday, October 04, 2018           

Morison Industries Plc, will on this day hold its Annual General Meeting in Lagos while the DCSL Corporate Governance Masterclass will hold same day with the theme Enthroning Good Governance in Microfinance Banks in Lagos

 

Friday October 05, 2018 

AIICO Insurance PLC will on this day hold its Extra Ordinary Meeting in Lagos 

 

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 Check out our Events Calendar for event details and follow us on Web, TV, APP and Social Media for updates as the week unfolds. Yours to Serve!

 

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Latest Reports This Past Week

1.       Nigerian Banks’ Performance – H1 2018

2.       Lagos State Accounts for 34.17% of Foreign Debt As At June 2018 - NBS

3.      NIPC Issues Report of Investment Announcements, Half Year 2018

4.   Nigeria: Papering Over The Cracks - HSBC

 

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Latest Videos This Past Week

 

   

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Previous Week(s) Market Outlook 

  1. What To Expect From The Markets This Week - 240918
  2. What To Expect From The Markets This Week - 170918
  3. What To Expect From The Markets This Week – 100918
  4. What To Expect From The Markets This Week - 030918
  5. What To Expect From The Markets This Week - 270818 

 

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3.      Nigerian Stock Market Halts Uptrend as NSEASI Sheds -0.46%

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5.      Nigerian Stock Market Halts Gaining Streak to Open The Week Negative as NSEASI Dips by -0.27%

 

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